HSBC Asset Management (AM) has provided $48.2m (€m) to refinance a solar and wind portfolio that operate under PMGD, Chile’s special regime for distributed generation projects.
The asset manager said it has acted as the sole debt investor in the US private placement for the refinancing of the assets in Chile sponsored by InterEnergy.
The portfolio comprises 12 solar photovoltaic projects and two wind farms, with a total capacity of 60MW, all fully operational.
HSBC AM said this is the first long-term private placement for a portfolio of solar and wind projects in the PMGD sector, which benefits from the PMGD regulatory regime.
This transaction marks the fifth infrastructure debt investment in Chile for HSBC AM’s infrastructure debt investments team and the second long-term PMGD private placement transaction in the portfolio, the manager said.
Diana Sepulveda, senior portfolio manager, infrastructure debt investments, at HSBC Asset Management said: “We are pleased to have completed our first bilateral infrastructure debt transaction in Chile with InterEnergy. We are committed to making sustainable investments consistent with delivering net-zero by 2050.”
Andres Slullitel, CFO of InterEnergy, said: “We are extremely happy to have worked with HSBC Asset Management in this refinancing and we trust this is the starting point of a fruitful and long lasting relationship.”
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